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Unity Bancorp has the Financial Strength Rank of 4.
Warning Sign:
Unity Bancorp Inc displays poor financial strength. Usually, this is caused by too much debt for the company.
GuruFocus Financial Strength Rank measures how strong a company's financial situation is. It is based on these factors:
1. The debt burden that the company has as measured by its Interest Coverage (current year). The higher, the better.GuruFocus does not calculate Unity Bancorp's interest coverage with the available data. Unity Bancorp's debt to revenue ratio for the quarter that ended in Dec. 2023 was 3.68. Altman Z-Score does not apply to banks and insurance companies.
GuruFocus Financial Strength Rank measures how strong a company's financial situation is. It is based on these factors
A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.
1. The debt burden that the company has as measured by its Interest Coverage (current year). The higher, the better.
Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.
Interest Coverage is a ratio that determines how easily a company can pay interest expenses on outstanding debt. It is calculated by dividing a company's Operating Income (EBIT) by its Interest Expense:
Unity Bancorp's Interest Expense for the months ended in Dec. 2023 was $-13.7 Mil. Its Operating Income for the months ended in Dec. 2023 was $0.0 Mil. And its Long-Term Debt & Capital Lease Obligation for the quarter that ended in Dec. 2023 was $366.7 Mil.
Unity Bancorp's Interest Coverage for the quarter that ended in Dec. 2023 is
The higher the ratio, the stronger the company's financial strength is.
2. Debt to revenue ratio. The lower, the better.
Unity Bancorp's Debt to Revenue Ratio for the quarter that ended in Dec. 2023 is
Debt to Revenue Ratio | = | Total Debt (Q: Dec. 2023 ) | / | Revenue | ||
= | (Short-Term Debt & Capital Lease Obligation | + | Long-Term Debt & Capital Lease Obligation) | / | Revenue | |
= | (0 | + | 366.748) | / | 99.676 | |
= | 3.68 |
3. Altman Z-Score.
Z-Score model is an accurate forecaster of failure up to two years prior to distress. It can be considered the assessment of the distress of industrial corporations.
The zones of discrimination were as such:
When Z-Score is less than 1.81, it is in Distress Zones.
When Z-Score is greater than 2.99, it is in Safe Zones.
When Z-Score is between 1.81 and 2.99, it is in Grey Zones.
Altman Z-Score does not apply to banks and insurance companies.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Unity Bancorp (NAS:UNTY) Financial Strength Explanation
The maximum rank is 10. Companies with rank 7 or higher will be unlikely to fall into distressed situations. Companies with rank of 3 or less are likely in financial distress.
Unity Bancorp has the Financial Strength Rank of 4.
Thank you for viewing the detailed overview of Unity Bancorp's Financial Strength provided by GuruFocus.com. Please click on the following links to see related term pages.
Daniel C Sharabba | officer: Senior Retail Officer/SVP | C/O, 64 OLD HIGHWAY 22, CLINTON NJ 08809 |
Minsu Kim | officer: Chief Credit Officer/SVP | C/O, 64 OLD HIGHWAY 22, CLINTON NJ 08809 |
Vincent Geraci | officer: Director of Mortgage Lending | C/O, 64 OLD HIGHWAY 22, CLINTON NJ 08809 |
Souders Donald E. Jr. | director | C/O UNITY BANK, 64 OLD HIGHWAY 22, CLINTON NJ 08809 |
James R Davies | officer: Controller/FVP | C/O, 64 OLD HIGHWAY 22, CLINTON NJ 08809 |
Dallas Robert H Ii | director, 10 percent owner | C/O UNITY BANCORP INC, 64 OLD HIGHWAY 22, CLINTON NJ 08809 |
David D Dallas | director, 10 percent owner, other: Chairman of the Board | C/O UNITY BANCORP INC, 64 OLD HIGHWAY 22, CLINTON NJ 08809 |
George Boyan | officer: Chief Financial Officer | C/O, 64 OLD HIGHWAY 22, CLINTON NJ 08809 |
Wayne Courtright | director | 9 MICHAEL COURT, MILLSTONE TOWNSHIP NJ 07726 |
John J Kauchak | officer: EVP/COO | C/O UNITYBANK CORP, 64 OLD HWY 22, CLINTON NJ 08809 |
Janice Bolomey | officer: EVP/CAO | C/O UNITY BANK, 64 OLD HIGHWAY 22, CLINTON NJ 08809 |
James Joseph Donovan | officer: Chief Lending Officer/SVP | C/O, 64 OLD HIGHWAY 22, CLINTON NJ 08809 |
Stephen Rooney | officer: Chief Lending Officer/1st SVP | 212 DOLSON AVENUE, MIDDLETOWN NY 10940 |
Mark S Brody | director | |
Laureen Cook | officer: Chief Accounting Officer | C/O UNITY BANK, 64 OLD HIGHWAY 22, CLINTON NJ 08809 |
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